Michael Scotti III

Shareholder, Practice Group Manager, Business Litigation
Chicago
30 N. LaSalle Street
Suite 2800
Chicago, IL 60602
P 312.582.1605
F 312.580.1201
P 312.582.1605 | F 312.580.1201



Overview

Mr. Scotti concentrates his practice exclusively in the area of complex commercial litigation and provides corporate and strategic advice to the firm’s clients on risk management issues. For over 25 years, he has been representing companies and high-net-worth individuals in business litigation. His experience includes numerous jury and non-jury trials in both state and federal courts throughout the United States. He has handled hundreds of litigation matters involving such substantive areas as investment manager liability, minority shareholder disputes, real estate disputes, fiduciary duty claims, bank fraud, commercial foreclosures, employment/non-compete agreements, professional liability claims and contract disputes of all kinds.

Experience
  • Successfully defended investment managers for a trust company from series of claims based upon lack of suitability of investments – involving detailed analysis of the prudent investor rule and the duty to diversify – winning both cases on dispositive motions prior to trial
  • Successfully defended Board of Education of Indian Prairie Community Unit School District 204 DuPage and Will Counties, Illinois in litigation brought to stop the construction of Metea Valley High School based upon claims the action violated the U.S. and Illinois Constitutions, the Illinois School Code and the Illinois Open Meetings Act
  • Recovered 100% of a $10 million fidelity bond on behalf of an employer, by establishing criminal intent of a corporate officer engaged in wide spread fraud
  • Successfully defended hedge fund manager, sued as the manager of the fund and individually, for gross negligence, breach of fiduciary duty and various other claims; this case was won on a dispositive motion based upon the exculpatory clause in the contract
  • Successfully prosecuted real estate fraud claim for wealthy investor, involving a massive condominium conversion project, recovering 100% of initial investment and attorneys’ fees incurred in prosecuting action in federal court
  • Obtained first mandatory injunction against municipality in Illinois, allowing a multi-million dollar aircraft facility and fuel farm to be constructed during pendency of litigation – and obtained a jury verdict against the municipality for breach of contract
  • Defended AAA Arbitration claim filed against manufacturer by CPA for failure to pay for services regarding research and development credits; CPA’s claim was defeated based upon proof of malpractice and manufacturer represented received an award for all attorney fees spent defending the claim
  • Successfully brought a malpractice action against a real estate appraiser and recovered the defendant’s errors and omissions policy limit at the close of discovery
  • Successfully established the contents of a lost will and trust at trial and prosecuted undue influence claim to recover pre-death gifts to a natural child
  • Successfully defended Trust from claims alleging compensation for caretaking and unfulfilled promises of being made a beneficiary of the trust
  • Recovered a claim for unpaid professional services against a Probate Estate, whose invoices the Estate Executor refused to pay, after a full trial; the claim was paid 100% with an award of attorney fees and legal costs
  • Successfully prosecuted minority shareholder claims against closely held corporation and its officers, which resulted in a “fair value” buy out valued at approximately $9,000,000.00
  • Prevailed in a declaratory judgment action in which the insurer refused to defend a board member for a breach of fiduciary duty claim, which was upheld on appeal, and resulted in the insurer being ordered to provide a full defense and reimburse the board member for its attorneys’ fees and costs spent in the underlying claim
  • Negotiated settlement of a $20 million claim against a publicly traded railroad, after the close of discovery, for less than the budgeted amount to defend the case at trial; this case was actively litigated for over four years and was reviewed quarterly by the Railroad’s Board of Directors as “material” litigation
  • Participated in numerous commercial foreclosure actions, on behalf of both lenders and sophisticated borrowers, involving real estate collectively valued in excess of $150,000,000
  • Succeeded at both the trial and appellate levels in a case of first impression under the Illinois Condominium Property Act
Services

Education

  1. University of Tulsa College of Law, J.D.
  2. Hillsdale College, B.A.

Credentials

Bar Admissions
  1. Illinois
  2. Missouri
Court Admissions
  1. U.S. Court of Appeals, Seventh Circuit
  2. U.S. Court of Appeals, Sixth Circuit
  3. U.S. District Court, Central District of Illinois
  4. U.S. District Court, Northern District of Illinois
  5. U.S. Supreme Court

Recognitions

  • Selected as an "Illinois Leading Lawyer" for Commercial Litigation (2015 - present)

Affiliations

Professional Affiliations
  • American Bar Association
  • Illinois State Bar Association
Community Affiliations
  • Boy Scouts of America, Troop 505, Merit Badge Counselor & High Adventure Trip Leader, 2008-2013
  • Naperville YMCA Board Member 2008-2014
  • Head Football Coach, St. Raphael Cowboys, 2003-2008
  • President, Maple Brook I Swim Team, 2003-2008
  • Past President, Winding Creek Homeowners Association
  • YMCA Indian Guides/Princesses Advisor 1998-2005

Insights

Overview

Mr. Scotti concentrates his practice exclusively in the area of complex commercial litigation and provides corporate and strategic advice to the firm’s clients on risk management issues. For over 25 years, he has been representing companies and high-net-worth individuals in business litigation. His experience includes numerous jury and non-jury trials in both state and federal courts throughout the United States. He has handled hundreds of litigation matters involving such substantive areas as investment manager liability, minority shareholder disputes, real estate disputes, fiduciary duty claims, bank fraud, commercial foreclosures, employment/non-compete agreements, professional liability claims and contract disputes of all kinds.

Experience
  • Successfully defended investment managers for a trust company from series of claims based upon lack of suitability of investments – involving detailed analysis of the prudent investor rule and the duty to diversify – winning both cases on dispositive motions prior to trial
  • Successfully defended Board of Education of Indian Prairie Community Unit School District 204 DuPage and Will Counties, Illinois in litigation brought to stop the construction of Metea Valley High School based upon claims the action violated the U.S. and Illinois Constitutions, the Illinois School Code and the Illinois Open Meetings Act
  • Recovered 100% of a $10 million fidelity bond on behalf of an employer, by establishing criminal intent of a corporate officer engaged in wide spread fraud
  • Successfully defended hedge fund manager, sued as the manager of the fund and individually, for gross negligence, breach of fiduciary duty and various other claims; this case was won on a dispositive motion based upon the exculpatory clause in the contract
  • Successfully prosecuted real estate fraud claim for wealthy investor, involving a massive condominium conversion project, recovering 100% of initial investment and attorneys’ fees incurred in prosecuting action in federal court
  • Obtained first mandatory injunction against municipality in Illinois, allowing a multi-million dollar aircraft facility and fuel farm to be constructed during pendency of litigation – and obtained a jury verdict against the municipality for breach of contract
  • Defended AAA Arbitration claim filed against manufacturer by CPA for failure to pay for services regarding research and development credits; CPA’s claim was defeated based upon proof of malpractice and manufacturer represented received an award for all attorney fees spent defending the claim
  • Successfully brought a malpractice action against a real estate appraiser and recovered the defendant’s errors and omissions policy limit at the close of discovery
  • Successfully established the contents of a lost will and trust at trial and prosecuted undue influence claim to recover pre-death gifts to a natural child
  • Successfully defended Trust from claims alleging compensation for caretaking and unfulfilled promises of being made a beneficiary of the trust
  • Recovered a claim for unpaid professional services against a Probate Estate, whose invoices the Estate Executor refused to pay, after a full trial; the claim was paid 100% with an award of attorney fees and legal costs
  • Successfully prosecuted minority shareholder claims against closely held corporation and its officers, which resulted in a “fair value” buy out valued at approximately $9,000,000.00
  • Prevailed in a declaratory judgment action in which the insurer refused to defend a board member for a breach of fiduciary duty claim, which was upheld on appeal, and resulted in the insurer being ordered to provide a full defense and reimburse the board member for its attorneys’ fees and costs spent in the underlying claim
  • Negotiated settlement of a $20 million claim against a publicly traded railroad, after the close of discovery, for less than the budgeted amount to defend the case at trial; this case was actively litigated for over four years and was reviewed quarterly by the Railroad’s Board of Directors as “material” litigation
  • Participated in numerous commercial foreclosure actions, on behalf of both lenders and sophisticated borrowers, involving real estate collectively valued in excess of $150,000,000
  • Succeeded at both the trial and appellate levels in a case of first impression under the Illinois Condominium Property Act

Education

  1. University of Tulsa College of Law, J.D.
  2. Hillsdale College, B.A.

Credentials

Bar Admissions
  1. Illinois
  2. Missouri
Court Admissions
  1. U.S. Court of Appeals, Seventh Circuit
  2. U.S. Court of Appeals, Sixth Circuit
  3. U.S. District Court, Central District of Illinois
  4. U.S. District Court, Northern District of Illinois
  5. U.S. Supreme Court

Recognitions

  • Selected as an "Illinois Leading Lawyer" for Commercial Litigation (2015 - present)

Affiliations

Professional Affiliations
  • American Bar Association
  • Illinois State Bar Association
Community Affiliations
  • Boy Scouts of America, Troop 505, Merit Badge Counselor & High Adventure Trip Leader, 2008-2013
  • Naperville YMCA Board Member 2008-2014
  • Head Football Coach, St. Raphael Cowboys, 2003-2008
  • President, Maple Brook I Swim Team, 2003-2008
  • Past President, Winding Creek Homeowners Association
  • YMCA Indian Guides/Princesses Advisor 1998-2005